2014 Volkswagen GTI Lease Questions

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Can you please let me know the current MF and residual for a 2014 4dr Wolfsburg GTI and if you can a 2013 for GTI w/ conv. (I've seen these $2K below MSRP) - The lease would be for 36mo, 12K/yr. San Diego CA

Can you please let me know the current MF and residual for a 2014 4dr Wolfsburg GTI and if you can a 2013 for GTI w/ conv. (I've seen these $2K below MSRP) - The lease would be for 36mo, 12K/yr. San Diego CA

Now for the bad news. I'm 12,000 over my mileage allowance at .15c/mile. Obviously it was a bad time to lease it because I got transferred to a different office where I had to commute, which is why I went over. I'm not commuting anymore and would run about 9,000 miles/year now and I'm able to write off some of the payments for my business.

After doing research on my lease, I figured out I paid way too much and now have a better idea about leasing. But I'm still trying to figure out the best way to approach turning in/trading my Accord for the GTI because of the mileage overage and looking at a $1,800 bill from Honda Financial. Not sure what to do and any advice would be greatly appreciated.

Now for the bad news. I'm 12,000 over my mileage allowance at .15c/mile. Obviously it was a bad time to lease it because I got transferred to a different office where I had to commute, which is why I went over. I'm not commuting anymore and would run about 9,000 miles/year now and I'm able to write off some of the payments for my business.

After doing research on my lease, I figured out I paid way too much and now have a better idea about leasing. But I'm still trying to figure out the best way to approach turning in/trading my Accord for the GTI because of the mileage overage and looking at a $1,800 bill from Honda Financial. Not sure what to do and any advice would be greatly appreciated.

Thanks!

If you have a CarMax near you, ask them for a quote to buy your car. If their offer is closer than $1800 to your payoff, sell them the car, and you are out cheaper than turning it in... Otherwise, just bite the bullet and pay the mileage charges at turn-in.

That's the correct money factor and residual.. Since your drive off is the same as the 1st payment, it looks like you rolled everything into the lease payment (acq.fee, tax, etc.). Do you know what your net CAP cost and your tax rate?

@throb said:
Sales tax is 9% and for the cap cost I am not sure as I am sure it will be more than the 29173 since the fees are tacked on top of that.

Then, pre-tax payment is about $383/mo. With just the selling price, I get $346/mo. That leaves about $1300 for acq.fee, title/registration, etc.. If that sounds about right for where you live, it looks like a good deal.

@kyfdx@Edmunds said:
Then, pre-tax payment is about $383/mo. With just the selling price, I get $346/mo. That leaves about $1300 for acq.fee, title/registration, etc.. If that sounds about right for where you live, it looks like a good deal.

That sounds about right.
I have had a few dealers (4!) tell me on the phone they can't match the deal and one even told me he'd buy the car himself at that price. After that, I started to figure I was basically at the bottom.

It would be interesting to know the leasing formulas so I could have a spreadsheet that did all the math so I could bid appropriately.

I am sure none of that info is available since it would give too much edge to the consumer.

First, I did the lease calculation using the dealer provided price/residual/MF, and the dealers monthly payments came in $17 a month higher than mine. Dealer said it was because of additional "fees" associated with leasing and that most people like myself don't know how to really calculate a lease. Is this normal? Any fees I'm not accounting for beyond depreciation and cost of lending?

Also, dealer seems pretty set on a .00099 MF. My credit shouldn't be an issue, and this seems high based on what others around here are getting. Is this a pretty bad rate?

@paul_mcc said:
Hi, had a couple of questions I'd appreciate help with.

First, I did the lease calculation using the dealer provided price/residual/MF, and the dealers monthly payments came in $17 a month higher than mine. Dealer said it was because of additional "fees" associated with leasing and that most people like myself don't know how to really calculate a lease. Is this normal? Any fees I'm not accounting for beyond depreciation and cost of lending?

Also, dealer seems pretty set on a .00099 MF. My credit shouldn't be an issue, and this seems high based on what others around here are getting. Is this a pretty bad rate?

Any assistance is appreciated.

Thanks

The acquisition fee is $625. The base money factor for a 36 month lease is .00027. They can mark up the MF by as much as .00125 for extra profit, or they can add .00062, to waive the acquisition fee. (which you don't want to do.. cheaper to add the fee).

The lease calculation is really simple math, if they give you all the numbers... Ask the dealer for the NET CAP cost. If it's different than the "dealer provided price", then ask them what makes up the difference. Then, ask them if they are marking up the money factor for extra profit, as you know the base rate is .00027 for 36 months. that rate markup adds about $900 to your total cost, so it's not trivial.

The fact is: Most dealers don't know how to calculate a lease, they only know how to punch the numbers into a computer. You don't need a degree in applied mathematics to calculate a lease. Mutiplication, addition, subtraction and division is all it takes.

Then, your calculations are correct.. $295.. But, the acquisition fee could make that up.. Please refer to my answer above... you need answers from this dealer, as to why you aren't getting .00027 for the money factor... This is a 36 month lease, right?

Yes, it's for a 36 month, 10,000 mile lease. They have now agreed to give me .00027 after my inquiry. They did not however provide me the net capitol cost, only the final negotiated cost, despite my inquiry. I'm going to be following up, as they are now quoting a lease of $299 per month + tax, which obviously doesn't add up. Thanks again for your help, greatly appreciate it.

@paul_mcc said:
Got the Adjusted capitalized cost. This is what I was told (I'm potentially trading in my GTI 5 months early to get one of the last German ones):
_
The ADJ Cap Cost is $25,178.10

Your total Payoff for $16,100.98

Approx trade in value $15k to $15.5 ( were using $15,500 based on all examples so far)

Forgot to mention this to you. Hope this help with your calculations_

Ah - this helps. They are rolling in the negative equity from your current car into the cap cost. Using a 55% residual and a .00027 MF I get a pre-tax payment of $297.47. This splits the difference between your calcs and the dealers.

One other thing - what state is this? Tax for leases is calculated differently in Illinois, Texas and Maryland.